NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies. With traditional mining models, once the platform token (in this case, BTMX) is earned, the miner usually sells it in the secondary market in exchange for other paired cryptocurrencies. Since the trader continues to mine and sell his or her mining earnings in the form of BTMX, traditional mining is a one-way inflation model only on selling. Issued on November 11, 2018, with an initial price of ~$0.03, BTMX is the native utility token for the AscendEX platform with a total supply of 10 billion and a current circulating supply of approximately 753 million. Traders can use BTMX to participate in new listings on AscendEX with priority access as well as take advantage of several digital products and investment opportunities built around the BTMX ecosystem.
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- We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.
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BTMX: The Investor’s Exchange Token
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- Over time, with the increasing number of platform coins in circulation, selling pressure rises dramatically until the market for platform tokens collapses.
- In addition, the operation and availability of the system used to access the Web Page, including public telephone services, computer networks and the Internet, are unpredictable and may interfere with or hinder Web Page access.
- In addition, mandatory lock-up for large-sell orders helps balancing the trading activities of BTMX on the secondary market as well as supports the sustainability of the BTMX token value in the longer run.
- AscendEX traders can use BTMX to purchase Airdrop and Investment Multiple Cards to significantly increase their token rewards from airdrops or one of the platform’s investment products like BitTreasure.
- Terms and conditions in the Service Agreement, including but not limited to those in connection with the rights and obligations of the parties, the rules of service and prohibitions, shall apply to the users of this Agreement.
This price data is based on the mid price of the exchange data from the Bitbuy API, and may not accurately represent the lowest possible price to buy this coin at this time. The Margin Trading User Service Agreement (hereinafter referred to as “this Agreement”) is subsidiary to the Service Agreement of the AscendEX (hereinafter referred to as “the Platform”) as a supplementary agreement thereof. The definitions of terms in this Agreement shall be consistent with those in the Service Agreement.
1.3 We may freeze any Account in the event that we suspect or have reason to believe that you are engaged in suspicious trading or an other activity or have breached any of the above warranties. This may result in the unwinding of any deal that you may have entered into by then. Whilst your account is frozen, we will conduct an investigation and may require you to cooperate with such investigation. During the investigation, you will not be able to make deposits into or withdrawals from your Account, nor will you be able to trade via your account. At the end of the investigation, we may, at our sole discretion, decide to close your Account for which we are not required to provide you with any reasons for the same. Secondly, the reverse mining rebate offered to those with Maker traders acts as an incentive for them to provide more liquidity and depth of the exchange, the core differentiation for any successful exchange.
If you are new to crypto, use the Crypto.com University and our Help Center to learn how to start buying Bitcoin, Ethereum, and other cryptocurrencies. View the total and circulating supply of BTMX, including details on how the supplies are calculated. 12.6 The Terms and Conditions of this Agreement https://cryptolisting.org/blog/social-media-as-a-public-utility represent both Parties’ complete understanding of the Services, and shall replace all previous understandings and communications between the two Parties in connection with such Services. Any other documents inconsistent with the Terms and Conditions will not be binding on the Platform.
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Holding BTMX can also unlock the value of the tiered AscendEX VIP trading program, possibly granting users the most favorable fee structures at the highest levels based on the level of their BTMX holdings. The high number of traders eager to buy BTMX in anticipation of a new listing creates aggressive demand, leading to a buy-side imbalance that would reward all of the patient sellers and drive exciting price action for BTMX prior to each auction-driven listing. 12.5 If any provision of this Agreement is deemed to be unlawful, invalid or unenforceable for any reason, such provision shall be deemed severable and may not affect the legal effect of any other terms and conditions of this Agreement. 9.7 All notices sent to Users will be delivered by the Platform through official announcements on the Web Page, in-station letters, e-mails, customer service telephone calls, mobile phone messages or regular mail.
BTMX
BitMax.io (BTMX.io) is a global operator of an innovative digital asset trading platform with a broad range of products and services for global retail and institutional clients. With its relentless focus on transparency, reliability, and quality of execution and client services, BitMax.io has established itself as a clear leader in the crypto trading and exchange space. The ASD price page is just one in Crypto.com Price Index that features price history, price ticker, market cap, and live charts for the top cryptocurrencies.
Although Bitbuy is a Canadian platform, the most popular way to denominate cryptocurrency values is in USD. Check out Bitbuy Pro Trade to see what you can buy BitMax Token for, or learn How to buy BitMax Token. Tens of thousands of BTMX are consumed every day by traders locking up BTMX with the BitTreasure investment product, purchasing Multiple Cards with BTMX, or bidding them in the auctions.
2.1 All intellectual property in and rights relating to all the material used on the Website, including, but not limited to, designs, structures, layouts, graphical images and underlying source codes, shall be owned by the Platform. 1.1 The Platform reserves the right to verify your identity at any time for the purposes of complying with the relevant laws. BitMax.io’s innovative mining with a reverse-mining mechanism, however, is a viable solution to the critical issues of selling pressure and inflation with multiple benefits.
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The Platform strives to enable Users to safely access and use the Web Page, but the Platform does not declare or guarantee that the Web Page or its server is free from viruses or other potentially harmful factors. Therefore, Users should use the software recognized by the industry to check and kill any virus in the files downloaded from the Web Page. In addition, mandatory lock-up for large-sell orders helps balancing the trading activities of BTMX on the secondary market as well as supports the sustainability of the BTMX token value in the longer run. With this requirement, BTMX holders and miners are also incentivized to hold their tokens rather than directly selling them on the secondary market. Over time, with the increasing number of platform coins in circulation, selling pressure rises dramatically until the market for platform tokens collapses.
Trans-fee mining was quickly followed by the introduction of reverse mining, separate unique incentive structure for Maker trades – which are trades that have not been filled immediately partially or fully (like a limit order). Under this model, when a user executes a maker trade, the user will receive a rebate of the transaction fee in exchange for an equivalent market value of BTMX that the user holds in their account. The deducted BTMX tokens are then put into permanent lock-up, effectively moving them from the market supply. Reverse mining with trans-fee mining were formally launched to public on Nov 18, 2018, along with the industry-lowest commission rate at only 0.04%.
BTMX Markets
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